China's Bibox Crypto Asset Trading Platform Buys Up 100% of Dex.Top Decentralized Exchange

Bibox Buys Up 100 Percent Of Dex.Top

Good times for the Chinese based digital asset exchange, as it has successfully acquired . the decentralized token exchange, DEX.Top, which is a local to the capital of China. Speculation is still circulating, due to the companies outright refusals to talk about the cost of the acquisition. What is true is the fact that Bibox will be expanding its product offerings thanks to this.

Let's Try Out Something New

At this moment in time, Bibox, the China-based cryptocurrency exchange, which is responsible for the operation of 10 centers interspersed across the United States, Singapore, South Korea among a number of others. It is through these centers that the trade of various cryptos such as Bitcoin, Bitcoin Cash and Ethereum can take place.

This acquisition is officially the 2nd to come out of the last several months, the latest one being Chain Capital: a company based out of Switzerland which boasts unique licensing which allows them to do business within the European continent.

“The successful purchase of Dex.Top is the latest signal that Bibox is testing out something new in the world of digital currencies and assets,” according to Bihui Lin, a spokeswoman working on behalf of the company. Lin made it clear that the purchase would “not only improve the establishment of blockchain into Bibox's ecosystem easier, but would also allow for a more extensive range of trading options for users.”

Etherscan had previously compiled a great deal of data on the crypto exchange. And in terms of volume, Dex.Top is ranked as the 2nd larged decentralized asset exchange in the world when it comes to overall trade volume, and makes up a total of 21.3 percent of the grand total.

Above them, IDEX dominates with respect to trading volume, making up 46.4% of it. Officially, DEX.Top was launched in May, and proposed a unique system of digital asset trading across different blockchains. According to the team, it serves as “a mechanic that makes use of synchronized off-chain and on-chain ledgers, allowing for instantaneous trading, while allowing for higher levels of security for traders and the assets.”

‘Meeting Of Minds’

The company itself was alleged to have “discovered a meeting of the minds in Bibox.” This was made apparent within a public statement in mid-December:

“Both projects share a common vision of developing an outstanding trading experience with robust trading features while ensuring transparency and the security of users’ assets and data.”

The company went on to elaborate that “the acquisition will allow for the creation of a synergist relationship which will allow these projects to go the distance and beyond.”

In a time of great skepticism and untrustworthiness coming from digital currency exchanges, more are looking for evolution and movement into new areas, or to help solidify their positions in order to ensure long-term profitability, while also cutting potential risks that go hand-in-hand with an unregulated market.

Bibox have worked to develop over the course of its life, transforming to become one of the most popularly used exchanges in the world. The fact that it has managed to do that over such a short span of time is nothing short of impressive.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,436FansLike
2,797FollowersFollow
4,189FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Compound Roadmap to Full Decentralization to Begin with Issuance of COMP to Their Community

Compound will now issue COMP tokens to the users of their protocol in a bid to achieve full decentralization. They have released an...

Crypto Payment Processor BitPay Sees More Use in Stablecoins than Layer-2 Solutions

Rising fees on the Bitcoin blockchain after the halving will not set BitPay, a crypto payments startup, into using layer 2 payment channels...

Digital Dollar Foundation Releases Its First Whitepaper Urging The US Govt To Explore CBDC's

Christopher Giancarlo’s Digital Dollar Foundation releases its first white paper on the digital dollar. The projects aims at implementing a private-public partnership with...

Ethereum is Close to Being Flipped on its Own Blockchain As the Total Value Stored Is Shifting

The Ethereum network has been seeing a lot of activity in 2020. The price of Ether already seems to lead the altcoins rally, currently trading...

Coinbase, Who Controls Over 11% of Tezos, Rolls Out XTZ Staking in the UK, France, Spain, and the Netherlands

Over 6 months back, Coinbase launched Tezos staking for its US customers and now they are rolling this feature out for its users in...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today